HAMILTON, Ont. -- The CFL's Tiger-Cats reached a 20-year lease agreement with the city of Hamilton for the use of the new Tim Hortons Field on Thursday.
The $145.7-million stadium is set to open this season with the Ticats scheduled to play their first regular-season home game there July 26 versus expansion Ottawa.
The agreement, which will see the CFL club commit upwards of $30 million over the term, was approved by civic officials Wednesday night.
"The Tiger-Cats are beyond excited to enter this 20-year partnership with the City of Hamilton," Ticats owner Bob Young said in a statement. "We are making a significant investment, but the opportunity to play at Tim Hortons Field is transformative for our business and puts the team in position to be successful for years to come.
"We look forward to working with our partners at the City towards the shared vision of our community's brand-new, world-class facility."
The stadium will also be home for the soccer competition of the 2015 Pan American Games.
"We're thrilled about this partnership with the Hamilton Tiger-Cats, which will benefit the city, our taxpayers, as well as the Ticats," Hamilton major Bob Bratina said. "The agreement mitigates risk for taxpayers and will create hundreds of new jobs.
"This is truly a win for both the City and the Ticats."